I do not think that this is feasible out of the box, without additional equipment.
Which device can you connect to the upstream port of the proxy server? Assuming the downstream port has a regular device (say, a mouse, for example), the device in the upstream should be a USB host in order to efficiently handle the USB device.
But you cannot connect the USB port of your computer (which is already the host for all of its root USB ports) directly to another computer, which is a complete violation of the USB network topology. Both ports contain +5 V power rails, and if you connect them you are likely to run into shock. And / or private fireworks. Or a trip to the nearest motherboard and / or PSU retailer ...
Also, since USB is quite dynamic, and so on, I don’t think you can expect that the bit of the stream from one port will be significant if the other port repeats, because the address information, etc. can change.
There are 100% USB software analyzers such as http://www.usblyzer.com/ , but I'm not so sure about the proxies as what you describe.
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